Melbourne and the Diamond Valley real estate market saw tremendous growth between 2013 and 2017, with over 50% median price rise in most suburbs. The last 18 months saw this change with the Royal Commission pushing banks to tighten their lending policies as well as other regulatory changes which made it harder for buyers to get funding. Since the Federal election there has been more positivity from buyers and an increase in activity. Add in the interest rate cuts plus the reduction of the benchmark rate the banks were using, and buyers are now in a better position to secure higher funding.
The forecast for the market differs on who you speak to, however with limited stock and the ability for buyers to get a little more on that loan, supply and demand comes into the equation. It is extremely important to ensure your agent has the expertise, tools and assistance to achieve outstanding results in this market. A combined 75 years of real estate experience within our new office has seen us achieve 2 record sales months since 2013 in this market (March & July).
At Ray White Diamond Creek we are proactive and service oriented, across both sales and property management. For this reason we have aligned ourselves with the following experts to assist you in achieving the best possible outcome:
If you are making a move, looking to purchase, or need real estate advice including property management services, give us a call or drop in at Ray White Diamond Creek. Our highly trained staff with the backing of Australia’s largest real estate brand are ready to assist.
Narelle and Alan King
Owners – Ray White Diamond Creek